₦airaland Forum

Welcome, Guest: RegisterLoginWith GoogleTrendingRecentNew

Stats: 3,330,763 members, 8,446,969 topics. Date: Friday, 17 July 2026 at 01:15 PM

Toggle theme

CBN Blocks Money Transfers Into The Country From Most Operators - Business (5) - Nairaland

Nairaland ForumNairaland GeneralBusinessCBN Blocks Money Transfers Into The Country From Most Operators (43239 Views)

1 2 3 4 5 Reply (Go Down)

Re: CBN Blocks Money Transfers Into The Country From Most Operators by Obiwannn: 9:15pm On Aug 05, 2016
Hedonistically:
Interesting bro. But do you know whether Rhemito is also affected? I don't care if this policy is mainly driven by dollar concerns as I have no business in/with the US. My concern is entirely with the inflow of pounds converted to Naira from the UK... And this Rhemito seems to be UK based, just the way I like it. If Rhemito and Azimo are also affected, do you think this is going to be a very temporary thing? I need clarification o, make man no die.
Rhemito only works from uk?
Re: CBN Blocks Money Transfers Into The Country From Most Operators by Hedonistically: 9:53pm On Aug 05, 2016
Obiwannn:
Rhemito only works from uk?
I'm not sure though, but their head office is in the UK. Perhaps they process remittances from other countries. You'd have to confirm from their website.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by linearity: 9:19pm On Aug 06, 2016
decode55:
bro, what operator sends at 370?

I'm eagerly awaiting your reply.
Check if you have a La Nacional Agent close to you, they current send at N373..

http://www.resourcebridgellc.com/why-la-nacional.php
Re: CBN Blocks Money Transfers Into The Country From Most Operators by b0rn2fuck(m): 3:06am On Aug 07, 2016
linearity:
Check if you have a La Nacional Agent close to you, they current send at N373..
http://www.resourcebridgellc.com/why-la-nacional.php
but this la-nacional seems to be USA only or am I sleeping?
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 5:11am On Aug 08, 2016
linearity:
Yes, we do...I no longer use WU, WR or MG....you get more mileage with the money transfer agencies, but if you are sending large amount, it is not same day service, it sometimes takes 24hrs or 48hrs and I have had one of my transfer not remitted after 48hrs, all you need to do, is go back, they will investigate and rectify it, which more than meets my needs.
please do you no anyother method to send to naija from US apart from moneygram, western union . Needed urgently.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 5:35am On Aug 08, 2016
msogunro:
What about transfers to domiciliary accounts from U.S. banks? Is that still possible or is that now prohibited?

I usually transfer from Wells Fargo to my dom account with GTB.
please what are the criteria for transferring to domicililiary acc by wells fargo.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by linearity: 7:02am On Aug 08, 2016
abbeyboy2o15:
please do you no anyother method to send to naija from US apart from moneygram, western union . Needed urgently.
see if you have a local agent..

http://www.resourcebridgellc.com/why-la-nacional.php
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 7:05am On Aug 08, 2016
linearity:
see if you have a local agent..

http://www.resourcebridgellc.com/why-la-nacional.php
ok let me check thanks
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 7:08am On Aug 08, 2016
linearity:
see if you have a local agent..

http://www.resourcebridgellc.com/why-la-nacional.php
is not showing for california.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by anungangampu: 7:47am On Aug 08, 2016
linearity:
see if you have a local agent..
http://www.resourcebridgellc.com/why-la-nacional.php
what abt canada
Re: CBN Blocks Money Transfers Into The Country From Most Operators by decode55(m): 8:04am On Aug 08, 2016
linearity:
Check if you have a La Nacional Agent close to you, they current send at N373..
http://www.resourcebridgellc.com/why-la-nacional.php
thanks man. I appreciate
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 8:22am On Aug 08, 2016
decode55:
thanks man. I appreciate
Dont think they have office or info in california.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by msogunro: 1:12pm On Aug 08, 2016
abbeyboy2o15:
please what are the criteria for transferring to domicililiary acc by wells fargo.
You just need to have a Wells Fargo Bank account. The fee is $45 so it is only beneficial if you transfer a very large sum.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 1:16pm On Aug 08, 2016
msogunro:
You just need to have a Wells Fargo Bank account. The fee is $45 so it is only beneficial if you transfer a very large sum.
ok i have wells fargo account what if is not a large sum is there a disaadvantage in that .
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 1:21pm On Aug 08, 2016
msogunro:
You just need to have a Wells Fargo Bank account. The fee is $45 so it is only beneficial if you transfer a very large sum.
ok thanks
Re: CBN Blocks Money Transfers Into The Country From Most Operators by msogunro: 1:23pm On Aug 08, 2016
abbeyboy2o15:
ok i have wells fargo account what if is not a large sum is there a disaadvantage in that .
Yes.

The difference between the bank and agents like La Nacional is the fee and the rate.

With Wells Fargo, the fee is high but it allows you to convert at the black market rate.

With agents, the fee is low but often much lower than the black market rate.

You'll need to do some calculations to determine which is better for the amount you want to send.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 1:36pm On Aug 08, 2016
msogunro:
Yes.

The difference between the bank and agents like La Nacional is the fee and the rate.

With Wells Fargo, the fee is high but it allows you to convert at the black market rate.

With agents, the fee is low but often much lower than the black market rate.

You'll need to do some calculations to determine which is better for the amount you want to send.
The amount is just 500USD agent like la Nacional is not available in where i am so am looking at better choice cant do western union at all. Maybe i will start asking around in the morning western union is 341 as they say but low they are just shortchanging people.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by msogunro: 2:22pm On Aug 08, 2016
abbeyboy2o15:
The amount is just 500USD agent like la Nacional is not available in where i am so am looking at better choice cant do western union at all. Maybe i will start asking around in the morning western union is 341 as they say but low they are just shortchanging people.
Because WU rate is so low and assuming you convert at 390, you would be able to send about N20K more if you used Wells Fargo to send the 500USD.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by decode55(m): 6:54pm On Aug 08, 2016
abbeyboy2o15:
Dont think they have office or info in california.
You can check their website.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by abbeyboy2o15(m): 7:44pm On Aug 08, 2016
msogunro:
Because WU rate is so low and assuming you convert at 390, you would be able to send about N20K more if you used Wells Fargo to send the 500USD.
That is my thought too the rate of WU is too low compare to banks. Thanks very much.
Re: CBN Blocks Money Transfers Into The Country From Most Operators by anungangampu: 12:27pm On Aug 09, 2016
How can I receive money from canada apart from WU...something cheap like remit
1 2 3 4 5 Reply

DSS Raids Bureau De Change Operators In Abuja & Lagos, Forces Dollar Down To 400Naira To Appreciate As CBN Issues Licence To New Intn.l Money Transfer OperatorsCBN Blocks Money Transfers Into The Country From Most Operators234

What's The Price Of A Bag Of Cement In Nigeria Right Now?The Many Faces Of Bank Charges Paid By NigeriansHow True Is This In Nigeria?